Detroit Michigan Agreement to Incorporate Close Corporation
Category:
State:
Multi-State
City:
Detroit
Control #:
US-0092BG
Format:
Word;
Rich Text
Instant download
Description
A corporation whose shares are held by a single shareholder or a closely-knit group of shareholders (such as a family) is known as a close corporation. The shares of stock are not traded publicly. Many of these types of corporations are small firms that in the past would have been operated as a sole proprietorship or partner¬ship, but have been incorporated in order to obtain the advantages of limited liability or a tax benefit or both.
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